The Jackson Family’s Allowance Revealed

Looks like Katherine Jackson will be compensated quite nicely for taking care of Michael Jackson’s children. TMZ reported that legal documents unveiled today, reveal all the details. The special administrators asked to pay her $26,804 per month and the family allowance for the children is $60,000 per month.

The docs also say “…the Estate assets consist of real and personal property exceeding $500 million and that the Estate is solvent.”

Katherine as well as Michael’s three children, will continue to get an allowance (subject to change) until the estate is probated, which could take between 1 and 2 years from now.

The children’s expenses:

Salaries and payroll benefits: $315,580 per year
Basic needs: $141,300 per year
Entertainment and other: $159,120 per year

Totaling: $720,000 per year

Katherine’s expenses per month:

Assistant: $4,722
Insurance for Asst: $475
Housekeeper: $2,080
Driver: $2,000
Payroll and Taxes on gross salaries: $1,760
Utilities: $3,260
Clothing: $3,500
Personal grooming: $1,000
Entertainment: $1,500
Car Expenses: $1,750

The Total (not including a few unlisted expenses): $26,804 per month

Filed under: Michael Jackson,Prince Michael Jackson II

Photo credit: Splash

  • CarissaY

    New court records have revealed that Michael Jackson’s mother is receiving 86,204 US dollars (£52,455) per month from her late son’s estate to support herself and her three grandchildren. With that kind of amount, the family does not need any installment loans.
    Katherine Jackson is one of the primary beneficiaries of her son’s estate along with the singer’s three young children and unnamed charities.
    A judge approved a monthly allowance for Katherine Jackson and her three grandchildren in August.
    Katherine Jackson has been named the children’s permanent guardian. They are living at the Jackson family home in the San Fernando Valley.

  • Michael Jackson’s father is seeking money from his late son’s estate to help him meet monthly living expenses estimated at more than
    15,000 dollars, court papers filed in Los Angeles have revealed.
    Life insurance
    Level Term Life Insurance
    Life Insurance For business
    Free Life Insurance Quotes.

Latest Dish